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Mixed Qualitative – Quantitative Analysis
Risk analysis may use a mix of qualitative and quantitative analyses. This mix can happen in two ways: the frequency or potential for loss is measured qualitatively, but the magnitude of the loss (consequence) is measured quantitatively or vice versa. Further, it is possible that both the frequency and magnitude of the loss are measured quantitatively, but the policy setting and decision making part of the analysis relying on qualitative methods.
Contributor: Sima Rastayesh (ESR11)